What happened
Florida Insurance Commissioner Mike Yaworsky ordered an immediate cease-and-desist against Hydrogen Deep, LLC, d/b/a The Wave Insurance, after a market conduct examination found the company operating without the required licence, per the state OIR's 28 September 2026 announcement. The order suspends the company for violating the Florida Insurance Code.
The scheme was operational, not just technical: the respondents solicited watersports and marine-livery business owners in the Destin area, provided insurance quotes, collected premiums, issued insurance binders and certificates of insurance — and failed to pay claims. Regulators say they misrepresented or concealed the true nature of the insurance products being sold, and collected more than $100,000 in premiums that were permanently diverted for personal use.
The owners face criminal exposure. In June, the Okaloosa County Sheriff's office arrested owner Christopher Jason Brossett for grand theft while acting as an insurer and transacting insurance without a certificate of authority; in July it arrested Brady Allen Howard, owner of The Wave Insurance, for conspiring with Brossett to commit grand theft and operate without authority. CFO Blaise Ingoglia framed enforcement as 'zero tolerance' for insurers defrauding consumers.
What it cost
Immediate cease-and-desist and suspension ordered by Florida OIR; owners arrested for grand theft; more than $100,000 in premiums collected and diverted for personal use.
Why it happened
The company sold, solicited and bound insurance contracts with no certificate of authority — every document it issued was void by definition.
Victims were chosen for exposure: marine and watersports operators who need liability cover to operate, in a single Destin-area market.
More than $100,000 in premiums was diverted for personal use while claims went unpaid — the structure was theft, not sloppy compliance.
Both owners were criminally arrested before the civil order, giving the cease-and-desist an unusual grand-theft foundation.
The lesson
A licence check takes minutes and its absence costs everything: fake insurers win trust with real-looking quotes, binders and certificates — verify the entity before the premium leaves your account.
Aftermath
The OIR ordered an immediate suspension and cease-and-desist and urged consumers doing business with unlicensed companies to switch to licensed entities. Criminal cases against Brossett and Howard remain with Okaloosa County authorities; the state highlighted the case to push consumers to verify licences before buying.
FOLLOW THE EVIDENCE